OCC Would Develop a Huge US$ 800 Million Petrochemical Project in Sohar

Oman Oil Company (OOC), a state-run enterprise, intends to develop a huge US$ 800 million petrochemical project in Sohar.
 
The project is intended to facilitate production of one million tons of purified terephthalic acid (PTA) and polythylene terephthallate (PET).
 
Speaking on sidelines of deal for acquisition of a 30 percent stake in Vale Oman by OOC, Nasser bin Khamis Al Jashmi, Undersecretary at the Ministry of Oil and Gas, said presently OOC is working to set up a new distinct company for the project and has even constituted a project team to look after the project.
 
Mr. Jashmi, who is also the Chairman of OOC, informed that feedstock from the petrochemical project would be obtained from the Sohar Refinery.
 
Together with other petrochemical projects like polypropylene, this newly proposed project of OCC will establish Oman as a leading petrochemical producer, he said.
 
PTA is a key input for production of polyester fibre, which also finds utility in production of PET.
 
PET is used in production of several products including carpets and home textiles.